A friend is in early 30s, no income but spends his time investing and looking for better investments.. currently does a ratio of 60/40 value/options investing. He has just under $2M invested and...

Posting as :
works at
You are currently posting as works at

Depends on lifestyle cost. Totally doable.

like

Sure, if they're spending the same as an average American household, 2mil is enough. Not lavish or anything of course.

$2M should get you about $80k per year before taxes. Definitely doable, but depends on the desired lifestyle.

like

That’s over the long-term, assuming both bull and bear markets. The most often quoted “safe-withdrawal rate” is roughly 4% of invested assets. This assumes roughly between a 80/20 and 100/0 stock to bond ratio.

Says this is enough for him to be set for life and not ever have to have a real job again. I’m not the most well versed in either investing or personal financial stability long term like this, but is he good to go? Or need a reality check?

If he doesn’t live in the US and move to a lower cost country with good healthcare. Healthcare cost shouldn’t be an issue. He’s set at $2 Million.

like

If he trades options he’ll generate a lot of income

Move to SE Asia.

Related Posts

Any real estate agent in the Connecticut area on here?

like

I'd like to sell my condo in Central NJ but I've never done something like that before and feel a bit overwhelmed / intimidated by the process. Adding to the complexity, it's a deceased parent on the mortgage, not me. Is a realtor someone that can help? How do I find a good one?

like

Hi Fishes, what is the monthly salary for this? With 1.5L in 80c and 15k monthly rent and using previous employer’s pf. Please help.

Post Photo
like

Hold on to my TSLA stocks that I got 2 months ago or post loss?

like

Just starting to invest and would love some guidance- would you recommend investing in index funds like BPTRX and FDCAX through a taxable brokerage like Fidelity?

like

Who does your firm pay to get their taxes done? ACN pays for H&R Block and EY to do our taxes.

like

Thoughts on potential business ideas or investment opportunities where I can live the life I deserve now and not in retirement? I’m always trying to think of potential business ideas and come up with nothing. As far as interests, it doesn’t matter what it is. As long as it makes money I’m interested.

like

Off topic sorry : can we mention house property monthly maintenance during ITR from exemptions and deductions

like

Friends found out I invested a ton into crypto and tried to have an intervention for me. Lol. You only live once and I know the risks

like

Is it true that the only you hold stocks, the less tax you pay? Why is that the case?

like

I’m making around 12k after taxes this summer for my internship. Living at home so didn’t really have to spend money. Is it worth maxing out my roth IRA by putting in 6k and also maxing out my company’s 401k?

like

Coming with 8 years of international sales, account management & shopper marketing experience, I’m getting Retail Associate/Sales Associate offers by CPG companies with as low as $18/hr and $0.46 per km fuel.

While I think it’s a great opportunity to learn about the Canadian market as a new resident, it would break my bank and I would have to buy the car for this roles while living in Midtown Toronto. It doesn’t make financial sense to me.

I would love some thoughts & suggestions

like
like

Anyone with both Amex SPG and Chase Reserve: which card is better to link with Uber?

like

Has anyone used Gideon Strategic Partner for investing? What was your experience?

like

Need some advice if I should invest in pension fund or life insurance if I’m planning to leave the country (Germany) in the next five to seven years and never go back. I’m 30 and I used to live in Singapore. Joined the PR and had to pay pension but then I left Singapore and moved to Germany after 2 years and it costs more to pay for all the admin and notary than what I can actually withdrew from what I paid after tax... so I threw that money away in the end. I don’t want to repeat the same:(

like

Want to sell Pharma at a loss (just increasing) and buy ICLN but it’s at 52-weeks high 🤔?
Any insight on the situation..

like

NY state took my tax refund because of an outstanding liability. Is there a way to get my money back?

like

I’m early 30s and making slightly over 200k base and feel like I’ve got no shot to enter the housing market around here. How are others reconciling cost of living with non tech incomes? What are you long term housing plans?

like

Need advise: Looking to calculate our fire number and not sure whether to consider the mortgage payment into it or not.
HHI: 410K, monthly expenses: 7.5K (3K mortgage, 1.5K daycare, 3K everything else), no car EMI. We are mid-30s and 2 kids, 4 &1. expecting daycare expenses to go down in 2 yrs. And mortgage should be done in next 7. I intend to RE in next 10 yrs.

like

More Posts

Hi, has anyone worked through a successful integration of two teams/ business lines within a company. I’m looking to pick your brain and talk through approach, communications, etc without sharing anything confidential. Thank you!

like

Anyone from EY Tax Seattle Office? I'd like to know if there's a need of staff. I'm thinking of transferring. Also, how do you guys like the group? How's the culture like? I posted this in EY bowl but didn't get that much responses so I'm reposting here. Other firms please feel free to chime in if you're from Seattle. I'd greatly appreciate the feedback. Thank you.

like

Staff1 here: what are some key accounting concepts & technical skills to apply/know

like

Any Ramadan tips for work?

like

I graduated with a bs in management information systems. I'm thinking of going towards business analyst as a start to my career with no prior experience in the industry. Would that be a recommended good start?

like

Went grocery shopping today and I was the only non-Instacart shopper there. Pro tip: 11am is the best time to go if you can get away with it

like

Loving this new bowl! Please share your favorite business books with me. Topics of interest are personal finance, career, entrepreneurship, and life-work-balance and joy.

like

What’s a good non romantic birthday gift for a roommate? M gifting a F

like

Fired after 5 months. Keep or remove on resume? Long story short, I joined a company mid August that ended up being really toxic and absolutely ruined my confidence. Got fired and now I’m debating whether to keep it on my resume or not? My only concern is that now I’ll have a gap going back to August. Would appreciate your suggestions. Thanks!

like

How do medical writers and copywriters work together in your agency? Do you have a set process?

My trusted daily - been a few years and still one of my fav pieces.

Post Photo
like

Help! I need a sound engineer or someone that knows how to record audio for an interview for a personal project for this upcoming Saturday. The shoot will be in Schaumburg, IL around 6 pm for 3-4 hrs

Team I heard of multiple openings in Cognizant
Can anyone refer me
YOE 11.7 yrs
AOE Project Management, Service Management, Service Delivery,Operations

Hi all,
Please help me understand if I should accept this position or not?
I was working as a regular staff therapist for 2 years at an assisted living when just 2 weeks back the HR approached me with an offer to work at a newly opened senior living, so basically I will helping them set up that location from scratch, open it and get it running. For doing all this they have not even clearly offered me a promotion, raise or a change in position. What should I do?

Please help🙏🏻

like

Directors and above: how much was your equity award? (Both $ amount and percentage preferred)

like

Need advise: Looking to calculate our fire number and not sure whether to consider the mortgage payment into it or not.
HHI: 410K, monthly expenses: 7.5K (3K mortgage, 1.5K daycare, 3K everything else), no car EMI. We are mid-30s and 2 kids, 4 &1. expecting daycare expenses to go down in 2 yrs. And mortgage should be done in next 7. I intend to RE in next 10 yrs.

like

Looking to move. Folks that are in a 1BR with washer/dryer in unit and have a gym in their building, how much rent are you paying? And what neighborhood?

likehelpful

Hi Friends,

Any view on Zebra Technology (Reflexis product), till now done with 6 round of interviews.
How is the pay scale , job security and work culture at zebra Technology.
Yoe: 10+
Tech : Java+ cloud

Thanks!!

like

Is fasting absolutely necessary to get back into keto after a binge week? How do you guys get back on the wagon?

Additional Posts in FIRE Financial Independence Retire Early

For those of you who are recently married - how did you FIRE and pay for a wedding?

like

im 27 and could possibly retire if I kept my spending low. However you never know what’s going to happen, do you? How do you deal with the uncertainty?

like

Any advice from a soon to be landlord?

like

My goal since early 2020 was to hit $100k NW by Dec 2021. It’s going to be March 2022 and I’m at $86k 😔 It’s mostly due to healthcare-related bills I didn’t anticipate.
Trying to decide if I should still go through with a 1 week trip to Spain in May that I’ve been wanting to do for years :/

likehelpful

Thoughts on potential business ideas or investment opportunities where I can live the life I deserve now and not in retirement? I’m always trying to think of potential business ideas and come up with nothing. As far as interests, it doesn’t matter what it is. As long as it makes money I’m interested.

like

NY state took my tax refund because of an outstanding liability. Is there a way to get my money back?

like

Need advise: Looking to calculate our fire number and not sure whether to consider the mortgage payment into it or not.
HHI: 410K, monthly expenses: 7.5K (3K mortgage, 1.5K daycare, 3K everything else), no car EMI. We are mid-30s and 2 kids, 4 &1. expecting daycare expenses to go down in 2 yrs. And mortgage should be done in next 7. I intend to RE in next 10 yrs.

like

Anyone here own multi unit rentals as a source of supplemental (or main) income? Looking to enter the space and would appreciate any wisdom/learnings you may have to share 🙏🏼

like

I know there’s a lot out there already but created a car loan payment schedule/calculator and working on a fairly robust retirement model including mortgage/rent, student loans, car payments, monthly expenses, and investment assumptions. Happy to share either if people are interested.

like

Saving for a house down payment in the next 20-24 months. Where should I put my savings. Just in a savings account right now. Was thinking about ibonds, but is my timeframe too short?

like

I recently passed the 1 MM NW mark and originally was planning on diversifying into REI once I hit this mark. However, with the pandemic I'm a little hesitant. For those Real Estate investors out there, how has the pandemic impacted your portfolio? Have vacancies risen noticeably or rents dropped dramatically? How has the moratorium on evictions impacted you?

like

Need some FIRE advice please. I am currently 25 M, with 125k in savings across my 401k/ESPP/Personal Brokerage Acct. etc. I have no debt. Base salary of 125k with up to 25% bonus.

I contribute 20% to my pre tax (employer matches up to 6%) and 5% in my Roth 401k and 10% in my ESPP. I keep only what I need in my checking to pay rent and have some fun on the weekends, but all relative would you say that I am allocating my funds correctly. Huge believer in value investing and compound interest.

like

If we did the after tax voluntary contribution (with the intention to roll it over to back door Roth) but don’t get it rolled over before the year ends, what happens? Can we do it after Jan 1? If not, is that now just a separate retirement account w our employer (did mine w McKinsey, after maxing out Roth $19500)

like

Saw a post about an engagement ring here so wondering if you all have tips for wedding bands. Ideally, a half eternity band or something similar for me and a white gold 4 mm band for my partner.

Bio: About to finish my first year (23y) in a few months and have 10k in a 401(k) plan and 28k in a checking account (I attribute living at home for most of my savings). I have 19k in private loans (5-6%) and 35k in federal loans (4-5%, 0% rn) from UG.

Question: Don’t know too much about investing outside of basics and unsure if nows a good time to invest based off my experience level but I want to maximize my savings. Also, my mom has a 8k loan at 7% as well as my own loans. Any advice?

like

Just want to hear from people who hit FIRE and pulled the plug on working. What are you doing these days? How great is your life? Any regrets?